Bitcoin’s price has recently seen a massive rally, nearly doubling in a few short months. With it, the blockchain has returned to the spotlight, with millions closely watching the effect the SEC’s recent decision will have on the market.
The blockchain is enjoying its resurgence as interest in AI continues to be at an all-time high. And these two potentially revolutionary technologies could prove to be synergistic. Here are 3 ways in which the technologies are a perfect fit for each other:
Authenticity
At the core of blockchain technology is a transparent record of digital information. The record is “immutable” and cannot be faked or altered once entered and accepted by the network. Marrying this with AI would help make sure an AI’s thought process can be fully audited while remaining secure.
Lightning Speed
AI is able to collate and analyze massive amounts of data at previously unthought-of speeds. Combining this power with blockchain networks would bring a level of intelligence and insight across the entire network as well as provide increased access to key data for the AI model to train on, safely.
Smarter Smart Contracts
AI models could be embedded within smart contracts, providing unparalleled functionality when the conditions for the contract are met. It would also be possible to have much more sophisticated conditions for the contract to execute.
How To Invest
For those looking to invest in the AI space, ETFs provide an excellent vehicle. More experienced traders who are bullish on the AI space may choose to use a leveraged ETF like Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X Shares (NASDAQ: UBOT)
UBOT is a double-leveraged fund that tracks the movement of the Indxx Global Robotics and Artificial Intelligence Thematic Index, seeking a return of 200% on the return of the index over a single day.
It should be noted that leveraged ETFs are meant to be used as a trading vehicle as opposed to long-term investments.
UBOT Chart
According to Benzinga’s Melanie Schaffer, UBOT gapped higher to start Wednesday’s trading session and continued to hedge higher intraday on Thursday. The move came after the ETF broke up from an inside bar pattern on Tuesday, which leaned bullish.
UBOT is trading above the eight-day and 21-day exponential moving averages and on…
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